Posts made in July, 2018

If you want to start or expand a business, you will surely need a capital. If you also want it to be successful, you have to be financially stable. The operations need cash to run, and it will surely help you expand to new markets. Aside from getting investors to invest on your small business, where else can you get money? In the field of small business, the biggest myth is that getting a loan is bad. Even when they are tight in cash, why do small business owners don’t get a loan? Is it that bad?

There are many misconceptions and myths that surround loan, especially in the eyes of entrepreneurs. If we tell you that what you know about loans, would you believe us? That’s why in this article, we decided to debunk these myths and why applying for a loan in a loan company Utah is not bad for your business.

Myth 1: Bank is the Best Option for Loans

Our first notion of loans is that we should apply one in a bank. One of the myths is that a bank is the best option for a small business loan. The truth is that big banks only approve 23% of business loans, while small banks approve 48.7% of them. Banks are not the only source for outside funding, you can apply a small business loan from other financial institutions. There are many alternative financial sources that you can apply to, like merchant cash advances, nonbank lenders and accounts receivables factoring.

Myth 2: You are Not Qualified for Loan if You Have a Bad Credit

The reason why banks are not the best option for applying a business loan is that they only approve those who have a perfect credit score. So, another myth to debunk is that you’re not qualified for a loan if your credit is bad. Yes, most financial institutions won’t approve your loan if you have a bad credit. But would that leave you hopeless? You’re not completely out of luck. You can apply for a loan in nonbank lenders, who look at the revenue you bring in annually and the cash flow situation of your company. If you have a bad credit but your business is generating a steady revenue, there is still hope for getting approved.

Myth 3: Loan Application is Time-Consuming

If you apply in a bank, the application is really time-consuming, yes. It will take you 2 months before actual money is deposited on your account. You run a business, and you need it right away. Is it possible to process the loan in a matter of time? Yes! Let’s go back to myth #1. Banks are not the only source of business loans. As we mentioned, you can apply in nonbank lenders which the process will only take a day or two.

Myth 4: Only Failing Businesses Need Loan

Now, the most popular myth of all is that those who apply for a loan has a failing business. The truth is, small businesses will encounter cash flow problems at some point. Such situations won’t destroy a business unless you let them to. You can regrow the business, and you will need cash for it.

The critical thing about home renovation is the timeline of the project, and of course, the cost. There are so many things to consider with home remodeling whether you want a bath transformation or a total home renovation. To avoid things from going wrong, the following are the tips we’d like you to abide by.

Make a Plan and Stick to It

Costly mistakes are mostly caused by deviating from the original plan. If you have an adequate plan and budget, you should make sure that you stick to it. The planning is a crucial thing, especially if you’re in a tight budget. If you already have a detailed plan like material selections, designs, budget and timeline, you should stick to it. For large-scale projects like building a deck, pre-designing and planning should be assisted by the best deck builder Richmond.

Sparingly Use Trendy Styles

Home redesigning and facelift is an opportunity to use the styles we want. Most of the time, we are tempted to use fads and trendy designs. However, consider that these trends won’t age well in time. Remodeling is a great investment, so you should make sure that the architectural, structural and key materials are timeless in design. Then, you can integrate trendy elements in the fixtures, wall colors and fabrics. These elements can be updated once the trend changes, and the structural integrity of you house is still intact.

Understand the Workflow

Some of the challenges of designing or redesigning a house are narrow doorways, tight spaces and lack of access. If you want to redefine the space, make sure that you are going to plan it out well. For example, your kitchen has access problems. So, if you redesign the space, make sure you address those concerns by having an easy access to storage and appliances. The workspace should also be wide, and the clean-up is easy to do.

Make Use of Nature

Lighting is crucial when it comes to planning the house. If you want to save money on energy bills, take advantage of the natural lighting. Windows are great provider of light and heat, especially during cold days. Allowing the natural light to enter your house will create a warming effect. High ceilings adorned with molding are also a great way of letting the natural light enter, while also highlighting the other elements of your house.

Provide Plenty of Storage and Counter

Probably the reason why you renovate, or remodel is to update the house to your personal style or current trends. But one of the reasons why people do this is to add counter and storage space. This should be your main concern, so it should be included in your plan. If you’re remodeling the bathroom, you should maximize the space by adding height cabinetry and extra storage on the sides of the sink.

Those are some of the basic things you should consider. Again, stick to the plan you have if you don’t want hassles in your project.